Multiple Choice
Suppose a property tax of $300 per month is legally (statutorily) imposed on the owners of rental housing. Which of the following is likely to occur?
A) The monthly rental rate paid by tenants would increase.
B) The quantity of rental housing available would decline.
C) There would be a deadweight loss (or excess burden) created in the rental housing market.
D) All of the above are likely to happen.
Correct Answer:
Verified
Correct Answer:
Verified
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